Why this man chose farms over funds

Investors, such as fund manager Graham Birch, are being drawn to agriculture by the increasing demand for food...and the tax breaks

When star fund manager Graham Birch decided to give up running Black Rock's £1.5 billion Gold & General fund to become a full-time farmer, investors and City-watchers were bemused.

Birch, 49, who had managed the fund for 10 years and was also head of Black Rock's natural resources team with about £20 billion under management, had returned 22.3% a year for the fund during his tenure, according to figures from Trustnet, the financial website.

Everyone assumed that his move to the countryside was for "lifestyle reasons", with Tony Stenning, head of UK retail at Black Rock, reported as saying that Birch had been buying farms and "enjoying himself" while on sabbatical.

They were wrong: Birch made the move for the money. In his first interview since leaving Black Rock, Birch explains that he is banking on big returns from his 2,300-acre dairy farm in Dorset.